Vander Co$.$ provides medical care and insurance benefits to its retirees. In the current year, Vander agrees to pay $$11,100$ for medical insurance and contribute an additional $5\%$ of the employees' $$216,000$ gross salaries to a retirement program.

$(1)$ Record the entry for these accrued $($but unpaid$)$ benefits on December $31.$

$(2)$ Assuming $$6,600$ of the retirement benefits are not to be paid for five years, how should this amount be reported on the current balance sheet?

Complete this question by entering your answers in the tabs below.

Required $1$

Required $2$

Record the entry for these accrued $($but unpaid$)$ benefits on December $31.$

Journal entry worksheet

Record the costs of employee benefits.

Note: Enter debits before credits.

General Journal

Debit

Credit